About this episodeThis video features a negotiation between luxury watch collector Michael and Happy Jewelers, showcasing an ext…AI summary
This video features a negotiation between luxury watch collector Michael and Happy Jewelers, showcasing an extensive inventory of high-end timepieces including Richard Mille, AP, Patek Philippe, and Rolex. The discussion highlights significant market value discrepancies, such as the soaring prices of Richard Mille models and the unique craftsmanship of AP's frosted finish, while also addressing the high maintenance costs associated with brands like Richard Mille.
Key takeaways 5
Richard Mille market values have surged significantly; a rose gold RM 6701 that sold for around $180k a year ago now commands approximately $270k, with the white gold RM 6702 reaching close to $500k.
AP's 'frosted' finish is created by hammering gold with diamond points, resulting in a durable, scratch-resistant surface that resembles diamonds from a distance.
Richard Mille service costs are exceptionally high; one instance cited involved a screw replacement costing over $60,000, whereas full services typically range from $12,000 to $15,000.
Happy Jewelers conducts eBay Live auctions every Wednesday at 2:15 PM and Tuesday jewelry auctions at 2:15 PM, often selling items at or near cost for advertising purposes.
Patek Philippe offers diverse model variations often overlooked by collectors, such as the 5968R (rose gold) and 5164 (travel time), alongside the more common white gold chronographs.
Notable quotes 4AI-generated: wording and quote attribution may be wrong. Use the play link to verify.
“If you put up a piece and you take a $20,000 hit on it... say, 'Congratulations.' It is what it is.”
▶ 5:09Happy Jewelers' philosophy on losing money on eBay auctions to build customer relationships and brand loyalty.
“The only place you can buy them is in the Middle East... I went to Rolex, remember? Why don't you buy one now then? Buy one right now.”
▶ 21:02Discussion about the exclusivity and difficulty of acquiring certain Rolex models like the Day-Date with specific bezels.
“They're a crappy watch... The movements are terrible. I mean, come on, please.”
▶ 27:06Michael's controversial opinion on Richard Mille's mechanical quality despite their brand prestige.
“I have five Richard Mille. And you're dying to one of which is broken with a screw that broke. Give it to me. I'll fix it for you.”
▶ 13:02Highlighting the fragility and high repair costs of Richard Mille watches as a counterpoint to their value.
Chapters & Sections (19)▼
0:00Luxury Watch Inventory and eBay Live Auctionschapter2
1:46Richard Mille Watch Selection
2:52Audemars Piguet White Gold Diamond Bezel
4:04AP Royal Oak Offshore Diamond Bezel and Frosted Rainbowchapter1
5:49AP Frosted Rainbow Finish Details
8:04Richard Mill Market Values and Trade Negotiationschapter2
9:11Richard Mill 6701 and 6702 Market Values
10:26Failed Rose Gold Watch Trade Negotiation
12:06Richard Mille Service Costs and Maintenancechapter1
13:31Richard Mille Service Costs vs Cars
15:45Luxury Watch Inventory and Trade Negotiationschapter1
17:24Watch Trade Negotiations and Inventory
20:13Luxury Watch Inventory and Spider-Man APchapter2
21:34Platinum Daytona and Rare 36mm Watches
22:58Rolex Open Back and AP Spider-Man Discussion
26:13Richard Mill Critique and Patek Philippe Modelschapter3
28:36Patek Philippe 5968 Variants and Pricing
30:50Travel Time vs GMT Watch Differences
32:11Patek Philippe 5167 Case Design and Debathons
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